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Property profile & analytics
OFF-MARKET
Estimated value
$649,235,000
Parking lots & garages
2121 Craig Rd North Las Vegas, NV 89030-3385
Entity Owned
24-yr Hold
~
Est. High Equity
Property ID
US62-0430870
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2005
Construction
FRAME
Total area
576,000 SF
Lot
27.94 ac (1,217,066 SF)
APN
139-02-701-006
UPID
US62-0430870
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cannery Casino Hotel & Motel Resort
-
Galaxy Theatres Cannery Cinema Theater & Performing Art Venue
-
Steak 'n Shake Restaurant
-
Cannery Bingo Room Bingo Hall
-
Touched by Her Notary Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$659.48M
Blend (final)
Blend
$649.24M
Owner & transaction history
Cannery Hotel & Casino LLC · 24 yrs held
Cannery Hotel & Casino LLC
since 2002
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$612.8M
+14.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs North Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Las Vegas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$537,170,000
Current use
RESTAURANT
$612,770,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$649.24M
Range $584.31M – $714.16M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,127 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$834,820
Tax year 2023
Assessed value
$43,418,855
Assessed 2024
Previous assessed
$39,517,909
+9.9% YoY
Effective rate
1.92%
On assessed value
Assessed land
$6,653,700
Assessed improvement
$36,765,155
Land market value
$19,010,571
Improvement market value
$105,043,300
Total market value
$124,053,871
Applied tax rate
250.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2005
Construction
FRAME
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
4
Stories
2
Units
200
Total area
576,000 SF
Lot
27.94 ac (1,217,066 SF)
APN
139-02-701-006
UPID
US62-0430870
Jurisdiction
CLARK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$537.2M
RESTAURANT
Est. value
$612.8M
PARKING LOT Current
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
4
Units
200
Lot
27.94 ac
Current owner
From public records · entity-resolved
Cannery Hotel & Casino LLC
Entity
Mailing address
2121 E CRAIG RD, NORTH LAS VEGAS, NV 89030-3385
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2022
—
The Cannery Hotel And Casino LLC
—
Deed
related
—
Aug 2, 2018
—
Cannery Hotel & Casino LLC
—
Loan Modification
related
—
Mar 8, 2017
—
Cannery Hotel & Casino LLC
—
Grant Deed
related
—
Dec 28, 2012
—
Cannery Hotel & Casino LLC
—
Deed Of Trust
related
$370,000,000 · Deutsche Bk Tr Co Americas
Mar 26, 2012
—
Cannery Hotel & Casino LLC
—
Deed Of Trust
related
$930,000,000 · Bank Of America
May 21, 2007
—
Cannery Hotel & Casino LLC
—
Deed Of Trust
related
$745,000,000 · Bank Of America
May 30, 2002
—
Cannery Hotel & Casino LLC
Cannery Casino Resorts LLC
Quit Claim Deed
related
$48,000,000 · Vestine Mortgage Corp
—
—
Cannery Hotel & Casino LLC
—
Deed Of Trust
related
$11,905,000 · Robert J & Ruth A Kehl
—
—
Cannery Hotel & Casino LLC
—
Loan Modification
related
—
—
—
Cannery Hotel & Casino LLC
—
Loan Modification
related
—
—
—
Cannery Hotel & Casino LLC
—
Deed Of Trust
related
$1,000,000 · Cit Group/equipment Financing
—
—
Cannery Hotel & Casino LLC
—
Deed Of Trust
related
$800,000 · Bank Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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